Petrol and diesel prices in Karnataka have increased by ₹3 as the state government decided to increase taxes on June 15.
A state government notified, petrol and diesel prices are likely to go up in Karnataka as the state govt revises sales tax by 29.84% and 18.44%.
According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by ₹3 and ₹3.05 approximately in Karnataka
Petrol and diesel prices are likely to go up in Karnataka as the state govt revises sales tax by 29.84% and 18.44%.
According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by ₹3 and ₹3.05 approximately in Karnataka pic.twitter.com/rJDinVT6SK
— ANI (@ANI) June 15, 2024
After the hike, the price of petrol will increase to ₹102.85 per litre, while diesel will rise to ₹88.93 per litre.
Centre cuts windfall tax on petroleum crude
Centre has cut the windfall tax on petroleum crude to 3,250 Indian rupees ($38.90) per metric ton from 5,200 rupees, effective June 15, according to a notification issued on Friday.
The tax, which is revised every fortnight, remained unchanged at zero for diesel and aviation turbine fuel.
India on June 1 cut the windfall tax on petroleum crude to 5,200 rupees per metric ton from 5,700 rupees.
From July 2022, India started taxing crude oil production and exports of gasoline, diesel and aviation fuel to regulate private refiners which wanted to sell fuel overseas instead of locally to gain from robust refining margins.
